Revenue Stamp
Querist :
Anonymous
(Querist) 09 September 2010
This query is : Resolved
For how much amount revenue stamp has to be used in receipt.
In case, the total payment is by cheque does the receipt require revenue stamp?
s.subramanian
(Expert) 09 September 2010
1. One Rupee.
2. No need for a stamped receipt in cheque payments.
R.Ramachandran
(Expert) 15 September 2010
Revenue Stamp of Rs. 1/- is required to be affixed, when the amount exceeds Rs. 5000/-.
If, in a given day, from the same party, a number of payment is received in cash, though on each occasion the amount may be less than Rs. 5000/-, if the total cash receipt in the same day comes to Rs. 5000/- or more, then revenue stamp is to be affixed.
Similarly, if once a revenue stamp of Rs. 1/- has been paid on a particular day, any subsequent cash payment received from the same person on the same day will not attract any further stamp.
As rightly pointed out by Mr. Subramanian, no revenue stamp is required to be affixed in case the payment is received in cash, irrespective of the cheque amount.
